Hong Kong's IPO market recorded strong momentum in 1Q25, with a total of 15 IPOs completing, raising $17.7 billion, up nearly 3x YoY, logging a record high since 1Q21, KPMG said. Of which, six IPOs raised more than $1 billion.

Rising investor confidence and the recent AI boom are prompting more early-stage Chinese tech companies to consider listing in Hong Kong through the Specialist Technology Companies route, Louis Lau, Partner and Head of Hong Kong Capital Markets Group at KPMG China, said.

Meanwhile, Lau also noted that some larger A-share listed companies recently submitted applications for listing in Hong Kong. By focusing on high-growth sectors and attracting more “A+H” companies, the Hong Kong IPO market is poised for a vibrant year.